The Walton family, founders of the world’s largest company by revenue, Walmart, officially tops the latest Sunday Times Rich List, the paper’s ranking of the wealthiest 100 people in the world.
The U.K.-based newspaper reports that the American family has a collective net worth of £128.9 billion (nearly $175 billion) in its 30th annual list published on Sunday, May 13. Brothers Charles and David Koch, worth £88.9 billion ($120 billion), place second.
Although Amazon CEO and founder Jeff Bezos comes in third, he’s still the world’s single richest person with a net worth of £83 billion ($112 billion). Two other individuals round out the top five: Microsoft co-founder Bill Gates, worth £66.7 billion ($90 billion) and Berkshire Hathaway CEO Warren Buffett, worth £62.2 billion ($84 billion).
Her elaborate $500 million art collection and donation of $225 million in Walmart shares to the Walton Family Foundation in 2016 were two major components of raising the family’s overall wealth, the Sunday Times reports.
“My parents spent a lot of time with us growing up talking about the importance of giving back,” Alice Walton said in a 2011 CBS News interview.
The Walton Family also reaps the benefits from other Walmart-owned companies, such as the warehouse chain Sam’s Club and the British supermarket chain Asda. Walmart, as the no. 1 Fortune 500 company, has become a lot larger than its late founder Sam Walton first envisioned.
While getting his degree in economics at the University of Missouri at Columbia in the 1930s, Walton waited tables, delivered newspapers and clerked at a five-and-dime.
He opened the first Walmart store in Arkansas in 1962 and built his retail business on the premise that Walmart should service rural areas and “help customers, cut costs and share profits.”